Meanwhile, the company’s acquisition of Duke’s, BIGS, and Frontera brands are generating incremental sales and are boosting the overall top-line performance. Meanwhile, planned divestitures and increased investments in slotting fees will likely negatively impact the company’s sales in the short term but could benefit its sales in the long run through an innovation-led value portfolio.

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Rating summary and target price

Analysts rated Conagra stock a 2.4 on a scale of one to five, where one means a “strong buy,” and five is a “strong sell.” Meanwhile, 64% of analysts rated CAG a “buy,” 22% maintained a “hold,” and 14% recommended a “sell.”

Moreover, Conagra stock closed at $33.74 on Friday, September 22, reflecting a potential upside of 17.1% to the analysts’ 12-month target price of $39.50 per share.

In comparison, analysts have a neutral take on the company’s peers including General Mills (GIS), J.M. Smucker (SJM), and Kellogg (K). Meanwhile, analysts are confident about Kraft Heinz (KHC) stock.